Business Daily from THE HINDU group of publications Thursday, Sep 07, 2006 |
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Industry & Economy
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Real Estate & Construction Government - Policy `Construction industry to be included in services sector' Our Bureau
THE UNION Minister for Commerce and Industry, Mr Kamal Nath, with the CEO and MD, Tata Consultancy Services, Mr S. Ramadorai, at a national conference `Boosting services exports' in the Capital on Wednesday. Kamal Narang
New Delhi , Sept. 6 The Government will include the construction industry in the ambit of the services sector in order to increase services exports to 15 per cent, the Minister of Commerce and Industry, Mr Kamal Nath, has said. Underlining the importance of the Services Export Promotion Council, at the CII's National Conference on Boosting Services Exports, here on Wednesday, Mr Kamal Nath said, "This is a major step forward for boosting exports from the services sector by identifying new areas". The growth in the services sector is driven by domestic demand. Whether it is entertainment, education or the media, home-grown companies have led the growth. Manufacturing and services have become the economic backbone of the country. The Government will do all it can to facilitate the future growth of the sector, he said. "We are putting the right policies in place through a mix of taxation and opportunities to invest," he said. The country needs to create more jobs to absorb the 37 million people projected to be unemployed by 2012. For this, universities and institutes of higher education need to be expanded to create more knowledge workers. There is also need for more vocational institutes as well as institutes for upcoming sectors such as retail, tourism and aviation, he added.
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